MICROECONOMICS1990微观经济试题1990APMicroeconomicsExaminationMICROECONOMICSSectionITime60minutes50QuestionsDirections:Eachofthequestionsorincompletestatementsbelowisfollowedbyfivesuggestedanswersorcompletions.Selecttheonethatisbestineachcaseandplacetheletterofyourchoiceinthecorrespondingboxonthestudentanswersheet.1. Problemsfacedbyalleconomicsystemsincludewhichofthefollowing?I.HowtoallocatescarceresourcesamongunlimitedwantsII.HowtodecentralizemarketsIII.Howtodecidewhattoproduce,howtoproduce,andforwhomtoproduceIV.HowtosetgovernmentproductionquotasA.onlyB.andonlyC.andonlyD.,andonlyE.,andonly2. Whichofthefollowingwouldnecessarilycauseafallinthepriceofaproduct?A.AnincreaseinpopulationandadecreaseinthepriceofaninputB.AnincreaseinpopulationandadecreaseinthenumberoffirmsproducingtheproductC.AnincreaseinaverageincomeandanimprovementinproductiontechnologyD.AdecreaseinthepriceofasubstituteproductandanimprovementinproductiontechnologyE.Adecreaseinthepriceofasubstituteproductandanincreaseinthepriceofaninput3. Themarketequilibriumpriceofhomeheatingoilis$1.50pergallon.Ifapriceceilingof$1.00pergallonisimposed,whichofthefollowingwilloccurinthemarketforhomeheatingoil?I.Quantitysuppliedwillincrease.II.Quantitydemandedwillincrease.III.Quantitysuppliedwilldecrease.IV.Quantitydemandedwilldecrease.A.onlyB.andonlyC.andonlyD.andonlyE.andonly4.Supposethatafamilybuysallitsclothingfromadiscountstoreandtreatstheseitemsasinferiorgoods.Undersuchcircumstances,thisfamilysconsumptionofdiscountstoreclothingwillnecessarilyA.increasewhenafamilymemberwinsthestatelottery/11990APMicroeconomicsExaminationB.increasewhenafamilymembergetsaraiseinpayatworkC.remainunchangedwhenitsincomerisesorfallsduetoeventsbeyondthefamilyscontrD.decreasewhenafamilymemberbecomesunemployedE.decreasewhenafamilymemberexperiencesanincreaseinincome5. Whichofthefollowingdescribeswhatwillhappentomarketpriceandquantityiffirmsinaperfectlycompetitivemarketformacartelandactasaprofit-maximizingmonopoly?PriceQuantityA.DecreaseDecreaseB.DecreaseIncreaseC.IncreaseIncreaseD.IncreaseDecreaseE.IncreaseNochange6.QuantityProducedTotalCost0$5117228341461591BarneysBaitCompanycansellalltheluresitproducesatthemarketpriceof$14.Onthebasisofthecostinformationinthetableabove,howmanyluresshouldthebaitcompanymake?A. 1B. 2C. 3D. 4E. 57.AnaturalmonopolyoccursinanindustryifA.economiesofscaleallowatmostonefirmofefficientsizetoexistinthatmarketB.asinglefirmhascontroloverascarceandessentialresourceC.asinglefirmproducesinputsforusebyotherfirmsD.asinglefirmhasthetechnologytoproducetheproductsoldinthatmarketE.above-normalprofitspersistintheindustry8. Thetypicalfirminamonopolisticallycompetitiveindustryearnszeroprofitinlong-runequilibriumbecauseA.advertisingcostsmakemonopolisticcompetitionahigh-costmarketstructureratherthanalow-costmarketstructureB.thefirmsintheindustrydonotoperateattheminimumpointontheirlong-runaveragecostcurvesC.therearenorestrictionsonenteringorexitingfromtheindustryD.thefirmsintheindustryareunabletoengageinproductdifferentiation21990APMicroeconomicsExaminationE.thereareclosesubstitutesforeachfirmsproduct9. Whichofthefollowinginevitablycausesashiftinthemarketdemandforworkerswithacertainskill?A.AnincreaseinthedemandforgoodsproducedbytheseworkersB.AdecreaseintaxratesontheincomeoftheseworkersC.AnincreaseintheequilibriumwagesreceivedbytheseworkersD.AnincreaseinthesupplyoftheseworkersE.Thecreationofafederallysubsidizedprogramtotrainnewworkers10.Ifhiringanadditionalworkerwouldincreaseafirmstotalcostbylessthanitwouldincreaseitstotalrevenue,thefirmshouldA.nothiretheworkerB.hiretheworkerC.hiretheworkeronlyifanotherworkerleavesorishiredD.hiretheworkeronlyiftheworkercanraisethefirmsproductivityE.reducethenumberofworkersemployedbythefirm11. Ifafirmwantstoproduceagivenamountofoutputatthelowestpossiblecost,itshoulduseeachresourceinsuchamannerthatA.itusesmoreofthelessexpensiveresourceB.itusesmoreoftheresourcewiththehighestmarginalproductC.eachresourcehasjustreachedthepointofdiminishingmarginalreturnsD.themarginalproductsofeachresourceareequalE.themarginalproductsperdollarspentoneachresourceareequal12. InwhichofthefollowingwaysdoestheUnitedStatesgovernmentcurrentlyinterveneintheworkingofthemarketeconomy?I. Itproducescertaingoodsandservices.II.Itregulatedtheprivatesectortoachieveamoreefficientallocationofresources.III.Itredistributesincomethroughtaxationandpublicexpenditures.A. onlyB. onlyC. onlyD. andonlyE. ,and13. Ifitwerepossibletoincreasetheoutputofmilitarygoodsandsimultaneouslytoinc